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NAME DATE PERIOD Chapter 11 Chapter 11 SAT and ACT Practice After working each problem, record the correct answer on the answer sheet provided or use your own paper. 6. What is the average age of
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Chapter 11 of the United States Bankruptcy Code is a form of bankruptcy that involves reorganization of a debtor's business affairs and assets.
Any individual, corporation, partnership, or other business entity can file for Chapter 11 bankruptcy.
Chapter 11 bankruptcy forms must be completed accurately and filed with the bankruptcy court.
The purpose of Chapter 11 bankruptcy is to allow a business to restructure its debts and develop a plan to repay creditors while continuing operations.
Information such as financial statements, list of creditors, income and expenses, and a proposed reorganization plan must be reported on Chapter 11 bankruptcy forms.
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